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Sunshine Coast Price Drop: How low will they go?
01-29-2015, 12:34 PM, (This post was last modified: 01-29-2015, 12:39 PM by Skook.)
#15
RE: Sunshine Coast Price Drop: How low will they go?
I want to update three properties I looked at back in March 22, 2014 (Post #6 – has pics). I grouped the three together because the houses were similar in style. They’re what you might think of as 2 storey, traditional clapboard. I thought they might have difficulty selling because it isn’t a common house design these days on the SC and would likely appeal to only a small pool of buyers. Since all the homes were located in Sechelt, I figured it might take a long time for the homes to move unless they were willing to substantially lower their listing price.

So, here’s how things stand. 6101 South Gale Ave continued its slow death by a thousand cuts until October, 2014 when a buyer was able to talk the seller into settling below $300,000 for a total drop of -$42,500 off the original list price or -12.5%. The house sold below its 2014 Assessment and the lucky new owner got to see his/her new home drop a further $16,000 in 2015. Sweet. By the way contrary to media reports, the majority of Sechelt home owners saw their home values drop again this year.

[Image: attachment.php?aid=1061]

As for the other two homes, they’re still listed. 5736 Emily Way refuses to even contemplate lowering the list price. The last ad in the Sunshine Coast Real Estate Guide (Dec/Jan) indicates the home remains rented out at $1,500/mth. I guess that rent is covering costs so the owner is not desperate. The asking price is just a tad above the 2015 Assessment - down $4,000 from the 2014 Assessment.

[Image: attachment.php?aid=1062]

6340 Jasper Rd finally bit the bullet and dropped its price after a year on the market. It was relisted in July at $425,000 – a drop of $14,000; but, darn it’s not going any lower, so there. It’s priced about 14% above this year’s new assessment which also dropped compared to 2014 (-$3,000).

Hmm, time for a relist to freshen up those listing numbers, me thinks.


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RE: Sunshine Coast Price Drop: How low will they go? - by Skook - 01-29-2015, 12:34 PM

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